Dakkota to Assemble, Direct Ship and Manage Current Motor Supply Chain
Andra Rush to Join Current Motor Board
ANN ARBOR, MI – October 19, 2011 – (Motor Sports Newswire) – Current Motor, a Michigan-based early stage company that has developed a revolutionary electric maxi-scooter targeted at top markets in the Americas, today announced a strategic agreement with Dakkota Integrated Systems to assemble electric motorcycles in Michigan and directly ship them to Current Motor’s customers in the Americas. Dakkota will also manage Current Motor’s supply chain.
“We are serving a rapidly growing market for fun, practical and affordable electric vehicles (EVs),” said Lauren Flanagan, Executive Chairman Current Motor. “This strategic agreement with Dakkota empowers Current Motor to scale and allows us to focus our efforts on research, development, sales and marketing, while significantly progressing our plan for the most capital-efficient growth in our EV class.”
“Dakkota brings to Current Motor traditional Tier 1 management and technical skills, a history of flawless launches and a positive, competitive, ‘love to be a part of the solution’ attitude,” said Andra Rush, President, Dakkota Integrated Systems. “We like to say Dakkota has ‘people and customer obsession,’ and we are pleased to provide scalable services to help propel Current Motor’s growth,” added Rush.
Ann Arbor-based Current Motor was founded by Erik Kauppi, President & Chief Engineer, and John Harding, Chief Product Engineer. Lauren Flanagan was elected Executive Chairman earlier this year. Current Motor’s lead investor is BELLE Capital, LP, an early stage investment fund with a focus on investing in scalable companies owned by women or with a significant female leadership structure, located in Michigan and other underserved capital markets in the Midwest and South. Other key investors in Current Motor include the State of Michigan and Bob Lutz.
A limited partner in BELLE Capital, Andra Rush will join the Current Motor board of directors. Rush, a Native American descendant of the Mohawk Tribe from the Six-Nation Reservation, is the founder, President, and CEO of Rush Group, LLC. Rush Group is a Minority-Owned Business Enterprise and one of the largest Native American-Owned Businesses in the United States, with corporate headquarters in Wayne, MI, and additional facilities located in Chicago, IL, Holt, MI, Lansing, MI, Louisville, KY, Kansas City, MO and Ontario, Canada. Rush Trucking services many Fortune 100 companies throughout North America. In 2001, the Rush Group and Magna International formed a joint venture, Dakkota Integrated Systems, to provide award-winning interior systems and components, processes and services to automotive manufacturers including Ford Motor Company, General Motors and Chrysler.
“Leveraging our financial capital with top-tier human capital culled from our limited partners and our extended, ‘new girl network’ is what BELLE Capital is all about,” said Flanagan, who is also a co-managing partner at BELLE Capital, LP. “We’re thrilled to have Andra join the Current Motor board.”
“I’m honored to join the Current Motor board and look forward to helping create success for all the company’s stakeholders, while advancing Michigan’s leadership in innovative transportation solutions,” said Rush.
ABOUT CURRENT MOTOR COMPANY
Current Motor fills the unmet need for fast, fun, affordable, zero-emission, electric vehicles (EVs). Current Motor develops and manufactures all-electric maxi-scooters for the Americas, made in Michigan. Our EVs use no gas, produce no emissions and create no maintenance hassles. Our maxi-scooters offer speeds of up to 75 MPH and a range of up to 70 miles. They charge from a standard 110V household outlet in 5 hours. Backed by BELLE Capital, the State of Michigan and other private equity investors, please visit www.currentmotor.com for more information.
ABOUT DAKKOTA INTEGRATED SYSTEMS
Dakkota Integrated Systems is a company with world-class products designed, engineered, and manufactured by a diverse team of talented employees. For more than 10 years, Dakkota’s team has assembled complex vehicle systems for customers with demanding delivery windows. Dakkota leads the industry with superior lean assembly and sequencing operations along with first class product development, supply chain management processes and delivery services. Dakkota is committed to delivering the highest quality products and services to its customers, and has received numerous awards for its quality and service. Dakkota Integrated Systems is a joint venture between Rush Group LLC, and Magna International, Inc. For more information, please visit www.dakkotasystems.com
SOURCE: Current Motor Company